Tuesday, December 31, 2019

The Psychology behind Social Pressure Essay - 1108 Words

To what extent do those around us affect the way we think; they we perceive a situation; or they way we form our prerogatives? There are many different trains of thought, some of which are adopted, others of which are taken into account based on experience and periods of introspection, but there is one that lies with it, a fundamental difference in comparison to others: the group mind. To which it involves several individuals, a group mind is in essence, a collective following to a set of beliefs and/or practices, usually brought together through forms of social pressure and preconceived notions of moral obligation. Furthermore, these groups are often characterized by the absence of individualism and a sense of obliviousness towards how†¦show more content†¦Well, it shows one of its most toxic characteristics: assuming a role based on preconceived notions as opposed to questioning the validity of it. The ostensible guards were assuming their roles not out of any sort of inst ruction, and surprisingly enough, they all engaged in similar behavior when doing so which leads to the conclusion that that some of the of the supposed prison guards only committed the actions they did so that they would be a welcomed addition to the group. In a way, taking on this psychopathic group mind in an attempt to seek acceptance from their peers really exemplifies the negative connotations group minds can incur, the lack of understanding towards how their group worked ultimately had them following each other blindly; or in other words, it was a case of the blind following the blind. This lack of questioning and sheer acceptance of a situation puts others in harms way. In some ways, the prison guards can be viewed as gangs with no ring-leader, as they simply follow instinct and go out of their way to harm others, disregarding any form of common sense in the process. However, after the experiment was completed, the â€Å"prison guards† went about on their every day li ves, as normal individuals that wouldn’t even attempt to do what they have done on the experiment. This shows that group minds in of itself, can make a positive impact on one’s behavior, as the individuals reshaped their views according to theShow MoreRelatedPsychology : Psychology And Its Branches960 Words   |  4 Pagesfor iRp number, i chose to study different ways psychology has impacted humans and their knowledge about the mind and human behavior. 2: My guiding question was what impact has psychology had on humans? 3: My thesis statement was Psychology has had a positive impact on humans by giving researchers information about the brain and human behavior. My thesis statement was correct because psychology has helped humans understand the reason behind mental disabilities, mind functions and mind processesRead MoreWhat Social Psychological Factors Play a Role in Determining Whether a Person Conforms, Complies and Obeys?1019 Words   |  5 Pagesto determine what each of these social processes mean, in order to understand which psychological factors are involved. Conformity is a behavioural change in response to social pressure, either real or imagined. Compliance is a behaviour change in response to an explicit request to perform an action. Obedience is a behaviour change in response to a demand or order to carry out an action. Each of these processes are undertaken due to different psychological pressures being put on the individual, fromRead MoreEssay On Romantic Love1571 Words   |  7 P agesif you’ve felt it? 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Psychoanalysis as it emerged through Freud’s career was always a bodily theory and often a body practiceRead MoreThe Fascinating Stories Of Our Early Ancestors Are Some1170 Words   |  5 Pagessee people today, the human behind the husky beard and deerskin shaw is no different from today. Ever since the beginning of human interaction people have been conforming and for years scientist have been attempting to discover the reasons why. A number experiments have taken place over the years, bringing upon numerous experiments and theories to answer this question of conformity. According to an article by Saul Mcleod in Simple Psychology, â€Å"conformity is a type of social influence involving a changeRead MoreSocial Work As A Social Worker1414 Words   |  6 Pagesmotives lay behind the person’s reasoning. What makes social work idiosyncratic unlike the rest is the willingness and passion to promote human well-being. I yearn and hunger to see growth of what is already innate. That is the reason psychology became my undeclared major. My ignorance of the social work role did create misconceptions and fears. I knew I had to be in some helping profession. I was not sure if I would do so through occupational therapy, psychology, teaching, or social work. IRead MoreEssay on The Disadvantages of Homeschooling vs Traditional Education1404 Words   |  6 Pagesspreads around the community, parents have a choice of either homeschooling or public schooling their children. However, the most common question that bothers many parents is the doubt of which one to choose. Homeschooling can cause the children to stay behind of their age group people; however, now days, many of the children care less about developing their education and concentrate more on their life and hobbies. In addition, homeschooling would waste time and money from the parents. Laura Saba, a formerRead MoreAbraham Maslow Life Span Development and Personality1082 Words   |  5 Pages(CCNY). However, after three semesters, he transferred to Cornell Univ ersity then back to CCNY. Maslow attended City College in New York. His father hoped he would pursue law, but he went to graduate school at the University of Wisconsin to study psychology. At twenty years of age he married his childhood sweetheart, Bertha Goodman, an artist, whom was also his cousin on December 31. 1928. While attending college Maslow studied with his chief mentor Professor Harry Harlow. At Wisconsin he pursued anRead MoreUnderstanding the Scientific Field of Social Psychology Essay1565 Words   |  7 PagesSocial psychology is a study which seeks to study and understand social behavior. It tells us more about the group behavior, how we interact and how it impacts our decision. According to scientist Gordon Alliport, Social psychology is a discipline that uses scientific method to understand and explain how the thought, feeling and behavior of individuals are influenced by the actual, implied or imagined presence of other human beings. Social psychology is not limited to any social topics b ut looksRead MoreShooting An Elephant By George Orwell1670 Words   |  7 Pagesdid not want to be known as the â€Å"killjoy.† One of the people we scared, a five-year-old returning from the park, fell in a puddle and hurt his knee. We all ran away to avoid getting caught. Actually, I did not want to prank people; however, the social pressure of being with my friends in addition to my role in the group eventually caused me to comply. In â€Å"Shooting an Elephant,† by George Orwell, Orwell faced a similar dilemma. â€Å"Shooting an Elephant† is an essay that depicts Orwell’s conflictions about

Monday, December 23, 2019

How A Business And Work For Yourself - 1235 Words

How to start a copywriting in business in 3 steps. Are you sick of a long commute to work in the morning, Are you overworked and underpaid? Or, maybe your just sick of working for somebody else. in this in this article, you will find out how to start a copywriting business and work for yourself, with the potential to make a large income. I’m not gonna lie, it will take work, it will take effort and it will take time. But it might just be the perfect career for you. Step 1 on how to start a copywriting business Picking a niche Niche is just a fancy word for what kind of copy you want to write. This could be an industry specialty, such as, the pet industry or the financial industry. It could also be a Project related niche like email marketing or social media. It doesn’t matter what niche you pick but it should be something you enjoy writing about (or better yet, passionate about.) It’s important to pick a niche for a few reasons. You will be known as a specialist in your topic You will get paid more You will write your projects faster You will have less research to do clients will come looking for you It is always easier to sell to one person than to sell to everyone. You will have less competition and when people find you, it’s because they are looking for you. You should tike some time to figure out what you want to write about then stick with it. You can change your niche later down the road but start with something get good at it then change later if you want.Show MoreRelatedWhat Makes Someone a Successful Entrepreneur?1623 Words   |  7 PagesMind Your Own Business What makes someone a successful entrepreneur? It certainly helps to have strong technology skills or expertise in a key area, but these are not defining characteristics of entrepreneurship. 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Sunday, December 15, 2019

Mutual Fund in India Free Essays

string(157) " demonstrating their risk adverse nature shifted from less rollback bank deposits and low fluidic investment like LIC, Provident Fund and Pension Funds etc\." Master of Science in Management Specialization in Banking Finance Research Methodology Decision Analysis for Business (RMDAB) Assignment 2 Literature Review TOPIC: MUTUAL INVESTMENT FUNDS IN INDIA Student Name: Sangawar Pratik Shankar Batch: MFBD51217A FIN: G1190040U Table of Contents: 1. Background†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Pg. 3 2. We will write a custom essay sample on Mutual Fund in India or any similar topic only for you Order Now Literature Review on Mutual Investment Funds†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Pg. 7 3. Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Pg. 21 4. References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Pg. 23 Background a)Introduction The Four Basic Components on which Indian financial system is based on are Financial Market, Financial Institutions, Financial Service and Financial Instrument. One of the most important components of Financial Instrument is Mutual Investment Fund (mutual fund). (Jaspal Singh, 2004) (Mason Dave, 1999) â€Å"A mutual fund is a pool of money contributed by numerous investors, the capital gathered is invested to buy a hefty portfolio of securities† There are essentially three categories of mutual funds i. e. Money Market, Fixed Income and Stocks within each category there are variety of funds. (Mason Dave, 1999) An investment company is a body with trained portfolio managers as investment experts, they pool up the investors’ small capitals or funds for the reason of bankroll in securities. The most well-known form of Investment organisation is the open-end management association. The Other type of investment funds are closed-end funds, exchange-traded funds, business development organizations and unit investment trusts. (Jaspal Singh, 2004) The all above mentioned are civil funds the reason for that is, their share are publicly issued to investors and thus the funds and their shares are requisite to be registered with the Security Exchange Board of India (SEBI). Investment organisation/association that are secretly tender and issue their shares to investors/buyers are called private or hedge funds. The mutual or investment funds industry was started in early 1960’s with the configuration of Unit Trust of India, as an inventiveness of the Government of India and Reserve Bank of India. Jaspal Singh, 2004) Mutual fund is said to be investment as subject to market risk. As the capital is invested in the stock market to earn profits in terms of dividends, bonus shares of company, trading-buying and selling on higher prices. A common investor may not have adequate knowledge of the share market and the technical terms of the investment as how to create a good capital portfolio, which helps an investor to play safe in th e market. Now this situation of lack of investment knowledge creates an demand for mutual investment fund in mutual investment funds many small investor come together with their minor investment capital or funds and deposit it to a mutual fund investment company, organization or bank which acts as there agents or can be said as representatives in the stock market and for that service they take commission whenever the trading or buying or selling of shares is done, the commission may vary as per the investment companies. Amporn Soongswang, 2011) Mutual fund is the pool of invested money it based on the investment company which invests the savings of an amount of investors here the investors share a common financial objective, it in the ways of capital appreciation and earning incomes in the form of dividends. The funds are collected from the investors by the investment company and invested into capital markets instruments such as shares, debentures and overseas market. Investors invest money an d get the units as per the Net Asset Value (NAV). NAV is the current value of the money in the financial market or it can be explained as the present value of the fund in the financial market. (Bello, 2009) As mentioned that Mutual fund is the appropriate investment mode for the common man or the ordinary investor as it offers an investment prospect to invest in diversified portfolio management, high-quality research panel, proficiently manage Indian stock as well as the foreign market, the most important objective of the fund manager is to give the investor the safest investment and a balanced capital portfolio to play safe with maximum returns with good capital appreciation. The fund manager should also look after the trading of the stock i. e. buying and selling of stock or shares and through this the fund manager should generate revenue for the investor and should be able to give fair returns to the investors. (Dave, 1992) This helps the investment company to keep up their promise of profit generation and maximization through mutual funds and it can be done through good diversification of capital portfolio. (Patzelt, 2009) (b)Brief History of Mutual Investment Fund Mutual Investment as per the dates support was started in 19th century it was introduced in Europe, in exacting, Great Britain. Robert Fleming was the person to set up the first investment trust called Foreign and colonial investment trust as per the records it was in 1868. The Foreign and colonial investment trust and other investment which had their located in Britain and the U. S. , are known as close-ended mutual funds today. Massachusetts investor’s trust was the first trust in the U. S. , it was established in March 1924 it was an open-ended mutual fund. Ramola, 1992) Innovation in the products and services of financial market improved the popularity of mutual investment funds in 1950s and 1960s. The first global stock mutual investment fund was introduced in the U. S in year 1940. This financial market or can called as finance industry witnessed substantial growth in the 1980s and 1990s. In present the mutual funds are major source of ‘safe’ investment and it is a very successful product of financial market. (Ramola, 1992) Literature Review THE EMERGENCE OF mutual funds was the outcome of the requirement to assemble small savings of domestic sector and to channelize it for productive measures through stock market or can be said as financial market. In the early stage of industrial revolution which was in early 1970’s in India, the deposits with the banks and other financial institution lost their importance with the growth of capital market and the declining interest rates. The new investors or small investor demonstrating their risk adverse nature shifted from less rollback bank deposits and low fluidic investment like LIC, Provident Fund and Pension Funds etc. You read "Mutual Fund in India" in category "Essay examples" owards fluidic, momentary investments like units, shares, and debentures. (Bhapkar, 2007) However, an boilerplate or common investor is scared of fundamental market and hence cannot take decision or can be said as no path to walk on or no way can be seen, the condition was not at all decision ma king for investment, for small or average investor as, in which security to make the investment and when to make investment. This as a conclusion led to the advancement of mutual funds/bond funds in Indian financial industries. As mentioned above that in early 1970’s it was an start of industrial revolution in India and in that period of time there was high industries setting up in India and it created a high requirement of funds, so as the reaction of this action was public issue of for gathering of capital, but the amount which was collected was in bulk or we can say that investment which was asked by the companies or industries was a huge amount in this situation the small investors was not able to invest and enjoy the ownership and were also not having the knowledge of investment, so as to overcome this problem the mutual funds came into introduction, and the financial institution such as bank, mutual fund investment companies came to represent the investors in the market and help them invest into correct or good company. (Furfine, 2001) Here in Mutual Fund Company the funds were gathered from small investors and pool up capital and make a huge or bulk of capital and in exchange they were given N AV â€Å"Definition of ‘Net Asset Value – NAV’ A mutual fund’s price per share or exchange-traded fund’s (ETF) per-share value. In one and the other cases, the per-share dollar amount of the capital is determined by segmented the total value of all the securities in its portfolio, less any liabilities/amenabilities, by the number of fund shares outstanding† . (Iqbal Mansur, 2010) Mutual funds units are investment vehicles that help new investors to take a ong ride through capital market, which is not possible individually with small amount of investment. It provides a means of involvement in the financial market for investors who don’t have the time or perhaps the expertise to take direct investment decisions in equities successfully. (Dr. Rajesh Bahunguna, 2010) The basic need and objectives of the fund assembled by mutual funds in India has been on the exaggerated since their initiation in 1964 i. e. with introduction of US 64, the f lagship scheme of UTI. A further it was in 1987 and 1989, when the investors. Distant, accumulating in measure with the objectives of distinct commercial policy of 1991, mutual fund market was open to the clandestine sectors in the country i. e. India. (Dr. Rajesh Bahunguna, 2010) Since 1993 the opening year of clandestine sector mutual funds, the investment inclination deviated more in favour the private sector funds. The swelling collection of mutual funds crossed Rs. 120000 billion (SGD $ 2666. 66 billion) marks in India by November, 2002 with almost 59. 78% of the total investment going into private sector mutual investment funds. (Dr. Rajesh Bahunguna, 2010) The fact that the money so invested comes out of the hard earned savings of the investors apparently bring home the desired need of studying what the investors think about the mutual funds. It may also be mentioned here that less or small effort has been devoted or done by researchers in India to study the perceptions of investor towards mutual funds. Haugen, 1986) In the antecedent phase in India it was found that in general less knowledgeable mutual fund investors were found to be lacked in knowledge and were not autonomous in making fund investment decision making. Rather, t hey are the easily lured and motivated lot to get their investment made in any recommended mutual fund. Hence, to make this research meaningful, the focus is more on the educated and informed investors. Hence to invest in mutual funds the factor describes that investor’s preference for mutual fund investment because of the professional expertise of fund managers which can be said as the representatives on behalf of investors and in return they commission as there fees. (F. A. Abeer, 2012) The risk exposure that has to be faced for directly investing in stock market obviates the need for professionally expert managers for managing investment in stock market. We can take one more explanation to get some more knowledge of mutual funds; the first category of Contribution Company was the entity trust, which was a fixed pool of securities that, conflicting a mutual fund was not intensely managed. The first unit trust was bringing about in England in 1868. In contrast to the entity investment trusts, these funds were awful leveraged and formularised in market performance and their amount collapse during the great stock market clash of 1929. Open end and closed funds that bought their capital managers the potential to convert the concealed structure of securities. Iqbal Mansur, 2010) Mean while past years, closed-end investment organisation were another prevailing category of fund. A considerable aspect of this closed-end organisation was that they use leverage t o play safe in the field. Closed-end organisation applied Leverage by allotting bonds and issuing shares in the financial market offering shares to the public. This helped to the company to raise funds that were used to purchase portfolio securities which were a very important part. The extensive aberration among a closed-end fund and an open-end fund is that the mainstay of an open-end fund stance equipped to regain shares while and are redeemable. Kirsch, 2011) As it becomes very flexible for choices of mutual funds as they are redeemable and irredeemable it depends upon the investor that in which form they feel safe and are willing to invest. Mutual Funds have such structure to endow with utmost benefits to the investors, and the authorised person in Investment Company which is the fund manager has research team to attain the objectives of the scheme. Mutual Fund Investment Company has different units of sector funds; the requirement of these units to achieve the maximum market r eturn is proper planning for strategic investment. (William Fung, 2008) There should be a planned and unique diversification for the capital portfolio as per the market condition and investors or Investment Company’s resistance capacity. A planned portfolio helps to resist in the market as if the one part of the investment occurs loss the other stock or unit may bear it through generating profits and balance the situation, it is seen when the capital investment portfolio of the investor is very strong and well planned. For strong portfolio there should be professional Management here the fund manager should undergo throughout different research works and has adequate investment skills which promise high returns to the investor than what the investor can cope on his own. (Rainish Robert, 2002) Investment through mutual funds by a mutual fund investment company reduces risk factor, as the financial market is very dynamic in nature and requires high and accurate quality of analysis to generate good amount of return which very worth for an investor after taking such risk. Investing in mutual fund through an investment company diversifies the portfolio of securities yet with little investment in a mutual fund. The risk is diverted in a diversified portfolio than investing in just in 2 or 3 securities. (Palmiter, 2009) There are low transaction expenses due to the economies of scale (repayment of larger volumes), because of that reason mutual funds pay lesser transaction costs and the paybacks are passed to the investors. Mutual funds units have a great advantage of liquidity as in case an investor may not be capable to sell the shares hold by him effortlessly and swiftly, while units of mutual funds are more liquid to sell off and regain the invested capital as per the current value. Mutual funds are said to be investor oriented as it gives investors a wide range of investment schemes with different investment objectives. Investor has the choice of investing in a scheme which provides him the association between its investment aims and desired financial goals. As every investor wants to get higher return but with that they have right to know that where the capital is invested, so for such course of action mutual funds provides investors with the latest updated information pertaining to the markets and the investment schemes in the financial markets. All required material is disclosed to the investor as per the requirement of the regulator. Shah, 2000) As mutual funds have liquidity, security, transparency, low transaction cost and fair returns, it makes it very flexible. Investor can also control their holdings from a debt scheme to equity scheme and vice-versa. There is alternative of organized investment and withdrawal at regular time intervals is also offered to investors in open-end schemes. As mutual fund industry is a regulatory, it has its rules and regulation it is an element of well synchronized investment environment in this environment the interests of the investors are confined by the supervisory body. All the transactions and funds are registered in up to date manner with SEBI and complete transparency is kept. (Dr. Rajesh Bahunguna, 2010) In spite of ample amount of positive terms there are some disadvantages of mutual funds such as the fund manager may always not be able to manage to generate profits he might create loss as the whole control is in hand of the fund manager as the capital is of the investor but there is no control of the investor on his own capital. The fund has its own strategy for investment to sell, to hold, to buy time period. The cost control is not in hand of the investor, investors are applicable to pay the investment management fees and also the fund allocation costs as a proportion of the capital value of his investment as long as the investor holds the funds or units it is irrespective of the performance of the fund in the financial market. The capital portfolio is decided by the fund manager and also the decision of the investment of securities is in hands of the fund manager here investor has no right to get in the way on the decision making procedure of the investment by the fund manager, which some of the investors find as disadvantage in achieving their financial objectives. (Furfine, 2001) As mutual fund offers a range of investment schemes, so the investors finds it difficult to select the one in which he invests his capital it because the investor is lacking in that knowledge that is the reason he is investing his money through mutual funds but still the investor has to take decision to choose the scheme for this, they may have to take advice of the financial planners in order to make safe investment and invest in the right fund to gain profits through the invested funds which the major objective of the investors and let their money bloom. (Cornaggia, 2009) It is mentioned by many authors that investment funds are one of the important institutions for investing capital in to the financial market which is along with many risks for various investors especially the new and inexperienced ones which are lacking in the market conditions knowledge or we can say investment knowledge. Mutual investment companies act as financial intermediaries for non-professional investors they also respond to the requirement of the investors by making different types of capital portfolios with different configurations of securities. Since the market conditions are very dynamic in nature as mentioned earlier, investors are lacking in experience or almost new to the financial industry and they do not have knowledge of the markets professional literature and culture of the stock. (F. A. Abeer, 2012) The financial market in very wide in nature of investment and has an insufficient financial tools for investment and further support of small investor rights in neither regular nor efficient, and investing directly in capital market without any professional’s advice is rather very risky to invest until and unless the investor is an professional himself or has an adequate knowledge of financial industry and other important financial tool thus forecasting and establishing financial intermediary associations such as mutual fund investment companies is important and should be done by the financial market custodians. (F. A. Abeer, 2012) There are some main characteristics of mutual funds which have to be kept in mind while investing and which are very useful for an investor even if the investor is investing through an investment company such as, the mutual investment funds are purchased or the capital is invested through fund or broker of the fund so in this case the investor canno t sell it in the secondary market to other buyers or investors. The price of mutual fund each unit is decided according to the net value of the asset of investment unit and additional of wages that are occurred at the time of purchase. The investment unit can return to the fund or the broker as the units are redeemable. The return price of the each unit is as per the current net value asset with deduction of the transaction fees. The buying and selling of units is and continues process and continue constantly. There are different types of mutual funds it is based on the different investment objectives along with the various amount of risk involved, investment expenses and the fluctuations of the unit fund. Garmhausen, 2012) There are some types of funds such as close end fund; some features of these funds are the investment companies having fixed capital and in spite of being redeeming stocks makes its trading in secondary market for investors and hence can traded in secondary market, here the investors are able to purchase the funds directly and solely. Units or stocks of closed end funds are not available in stock or financial market for selling continuously these funds is just issued at their stocks in Initial Public Offering (IPO) for selling and investors willing to invest in funds can buy or invest their capital at the time of IPO or issue made the company and then those shares can easily trade in the secondary stock markets, here the stock can be traded. (Glassman, 2004) After the issue or the IPO and the stock price designated in the market according to the market’s conditions and influence, because of this sign of action it can be lower or higher that the NAV of each unit or share. Basically closed end funds are divided based on their approaches, risks, return patterns, investment objectives and portfolios are separated to different types and as according to that they have various levels of risk, volatility and fees variances. There is another category of funds which is said to be Index funds it is part of investment fund the most important feature of the index fund is the low cost, low tax and fees as compared to the other funds which are active in the financial market. The portfolio for the index funds is fixed, so they have lesser flexibility as compare to other funds. (Glassman, 2004) The major objective of the fund is to reach the return of the selected index such as National Stock Exchange (NSE) Index. There are some very important stock exchanges in India such as follows: Bombay stock exchange, Ahmedabad share and stock brokers association, Calcutta stock exchange association Ltd, Delhi stock exchange association Ltd, Madras stock exchange association Ltd, Indore stock brokers association Ltd, Bangalore stock exchange, Hyderabad stock exchange, Cochin stock exchange, Pune stock exchange, Uttar Pradesh stock exchange, Ludhiana stock exchange, Jaipur stock exchange Ltd, Gauhati stock exchange Ltd, Mangalore stock exchange, Maghad stock exchange Ltd, Patna, Bhuvaneshwar stock exchange association Ltd, Over the counter exchange of India, Bombay, Saurastra kuth stock exchange Ltd, Vsdodard stock exchange Ltd, Coimbatore stock exchange Ltd, The Meerut stock exchange, National stock exchange, Integrated stock exchange. (Dr. Rajesh Bahunguna, 2010) The mentioned are the stock exchanges of India but are driven by the major stock exchanges which are Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) these are the major index setters in the market are the regulatory which governed them id the Security Exchange board of India (SEBI). Exchange Traded Fund is a type of fund which is also called as ETF; ETF shares are not sold directly to the individual investors the ETF shares are mostly issued in the stock exchange in big blocks which been called creating and issuing units, and then the offers are given to the institutional investors. The sales of ETF are in non cash way for issuing and creating units to institutional investors and investors bring in their portfolio instead of cash and their portfolio is mostly same as the fund portfolio. After the purchase of the large blocks of ETF units the institutional investors divide the large stock into smaller parts or units and then it is ready to trade in the secondary market and is offered to the individual investors. (Dr. Rajesh Bahunguna, 2010) Then after the trading in secondary market, individual investors have two ways to trade the ETF’s shares or funds which are selling the stock to the other willing investors or returning them to the institution. Returning shares is only possible at the creation stage, issuing units scale and in non-cash ways. In layman’s words, instead of cash money, investors are allotted with existing securities at the portfolio of the funds. (Dr. Rajesh Bahunguna, 2010) The two main features of Mutual Investment Fund are said to be management and high liquidity: -Outside management: As the nature of mutual investment fund is different from joint stock company’s shares in one major issue, i. e. they are not managed by the inside management of the company. The important part of the Administrative and Operations of the mutual investment funds are done by the service providers from outside of the fund. There are some important fund operations and duties such as portfolio management, distribution of investment units, marketing and other activities which are directly affecting the service provider company; it uses existent specialty association’s facilities and abilities in the field of finance industry. The administrative and public expenses can be saved by outsourcing of main activities and small organizational core work. Klinger, 1992) -Variable capital and high liquidity: There is no fixed/closed capital for mutua l investment fund and the difference in their capital is seen at the time of issue and redeeming investment units, while there are no limitations for buying and redeeming as they are continuous in nature and investors can always buy and sell the mutual fund investment units and can be freely traded. Here the investors holding the fund unit can redeem the entire or part of their investment holdings and can change it to liquid cash on the basis of the Net Asset Value (NAV) of the funds. (Klinger, 1992) – Daily pricing of investment units: There is daily pricing of the fund units as mentioned early that it depends upon the NAV of the fund. The daily NAV is the sum of the market value of the portfolio minus funds debt and divided by the total amount of units have purchased by the investor. – Professional Management: Involvement of professional investment consultant gives a feature of Professional Management; the consultant has done with comprehensive research and having abundant information of the market situation and conditions. This feature is very important for any service provider as the investors may not have adequate knowledge of the investment planning and making a strong capital portfolio and this feature also helps investors to get familiar with the mechanism of Stock Exchange system. Klinger, 1992) – Diversification of securities and risk management: As investing in different securities and assets reduces the influence of reduction of value of the investment, the mutual funds manage the risk factor by diversifying configuration of different companies in different industries securities and use an expert or professional for maintenance of capital portfolio. (Klinger, 1992) Mutual Funds Classification: Mutual funds have been divided into three main groups which are as follows- I. Mutual funds that invest in companies stock II. Mutual funds that invest in securities with fixed income III. Mutual funds that invest in the money market All types of Mutual funds have been placed in one of the three above-mentioned groups. Mutual Investment Funds have wide range of investment objectives and it can be classified from conservative to aggressive and offer wide range of options and flexibility of investment of the funds to investor. (Dr. Rajesh Bahunguna, 2010) Conclusion: The study focuses on mutual funds risks and advantages, the findings may not be appropriate for an investor to understand the condition but with the above research we can get a picture of mutual fund and the risks allotted with it. The outputs of the research will let the investors understand mutual funds and market better. With the help of the information a new investor can get a basic idea or can understand the concept of mutual fund, the above research also helps in exploring the risk factors of mutual funds. It also mentions the advantages of mutual funds which help investors to make good decision for investing their hard earned money and with they can play safe in the market and gain good profits. As the research of mutual fund is an continues process because the market condition are very dynamic in nature and continuously changing are they directly affect the funds as it gives an direct impact on the funds the market conditions are need to be watched or observed very closely by the experts and investors as well. Market situation needs to be observing very closely to play safe in the market and help the investors to grow their funds and earn a fair income. India is a developing economy with many emerging industries and companies; the current situation in India today is that a common investor in general is found to be confused regarding his or her selection of investment in mutual investment funds it may be due to dynamic economy or various scheme that are available in the market, so the selection process becomes very important for investors that in which fund to invest in? The above study was trying to resolve the problem of investment decision with giving a brief introduction to the nature and characteristics of mutual investment funds and the finance industry. (Words-4,698) Bibliography/References Amporn Soongswang, Y. S. , 2011. Equity Mutual Fund: Performances, Persistence and Fund Rankings. Journal of Knowledge Management, 1(6), pp. 11-76. Bello, Z. Y. , 2009. On The Predictability Of Mutual Fund Returns. Journal Of Business Economic Stidies, 15(1), pp. 70-89. Bhapkar, R. , 2007. Corporate Portfolio Management: Capital Allocation From A Risk-Return Perspective. Corporate Finance Review, 12(2), pp. 27-38. Cornaggia, J. N. , 2009. Economic Effects of Access to Finance. Jornal of Finance, 1(4), pp. 43-57. Dave, S. A. , 1992. Mutual Funds: Growth and Development. The Journal of the Indian Institute of Bankers, pp. 42-117. Dr. Rajesh Bahunguna, M. K. A. , 2010. Dehradun Law Review. A Journal Of Law College Dehradun Uttarakhand India, 2(1), pp. 7-82. F. A. Abeer, A. A. A. N. T. Z. , 2012. Obstacles Of Mutual Investment Funds. Interdiciplinary Journal Of Contemporary Research In Business, 3(12), pp. 350-355. Fama Eugenef, K. R. F. , 2010. Luck versus Skill in the Cross-Section of Mutual Fund Returns. The Journal of Capital portfolio Management, LXV(5), pp. 16-37. Furfine, C. , 2001. Bank portfolio allocation: The impact of capital requirements. Journal of Financial Services Research, 20(1), pp. 33-56. Garmhausen, S. , 2012. Primed For A Come Back. Financial Planning, 2(4), pp. 23-45. Glassman, J. , 2004. A Better Mutual Fund Reform. The American Enterprise, 15(3), pp. 49-57. H Paul, K. J. F. , 2007. Capital Allocation For Portfolio Credit Risk. Journal of Banking and Finance, 10(4), pp. 103-122. Hamidreza Mirmohammad, M. N. , 2012. International Research Journal of Finance and Economics. A New Service Development in Iranian Financial Service Industry: Mutual Fund, Issue 87 (2012), pp. 7-16. Harald Hau, H. R. , 2004. Can Portfolio Rebalancing Explain The Dynamics of Equity Returns, Equity Flows and Exchange. The American Economic Review, 94(2), pp. 126-145. Haugen, R. A. K. c. O. , 1986. A PORTFOLIO APPROACH TO OPTIMIZING THE STRUCTURE OF CAPITAL CLAIMS. Jaurnal of Risk and Insurance , 37(1), pp. 41-72. Hickey, L. , 2010. The Palgrave Macmillan Dictionary of finance, investment and banking. Dictionary of finance, 48(1), pp. 60-87. Iqbal Mansur, O. B. A. N. , 2010. The Relationship Between Money Market Mutual Fund Maturity and Interest Rates. Journal of capital management, 1(2), pp. 109-178. Jaspal Singh, S. C. , 2004. An Emperical Analysis of Perception Of Investors towards Mutual Investment Fund. Finance India, 18(4), pp. 1673-1693. Jian Cai, C. K. a. T. M. , 2010. Economic Commentary Compensation and Risk Incentives in Banking and Finance. Journal of Banking and Finance, 1(1), pp. 010-2013. j, n. d. Kirsch, C. E. , 2011. An Introduction to mutual funds. Joournal of capital portfolio and Fund management, 1(6), pp. 12-76. Klinger, E. D. , 1992. A Banker’s Guide to Mutual Funds. Bankers Monthly, 109(12), pp. 18-21. Korpela, M. , 2005. Mutual fund expenses: Evid ence on the effect of distribution channels. Journal of Finance Management, 1(2), pp. 89-103. Lashgari Malek, W. M. , 2003. The Information cantent of Morningstar’s mutual fund ratings: The case for growth funds. American Business Review, 21(2), pp. 1-19. Lashgari, M. , 2011. An Invetment Portfolio Design For an Educational Endowment Fund the Role of Human Capital. Journal of Applied Business and Economics, 1(1), pp. 1-14. Leake, J. , 2008. Successful Portfolio management and RAPM. Balance sheet, 8(3), pp. 18-46. Mahreen Mahmud, N. M. , 2011. An Evaluation of Mutual Fund Performance in an Emerging Economy: The case of Pakistan. The Lahore Journal Of Economics, 16(2), pp. 301-316. Mansur, I. , 2011. JOURNAL OF FINANCIAL SERVICE PROFESSIONALS. The Relationship between Money Market Mutual Fund Maturity and Interest Rates, Issue JULY 2011, pp. 55-66. Martin, W. A. , 2009. Essays on financial markets, legal institutions and economic development. ProQuest Dissertations and Theses, 2(1), pp. 80-91. Mason Dave, M. A. M. , 1999. An Introduction to mutual funds: A good choice for retirement investing. New Accountant, 14(4), pp. 10-34. Nanigian, D. , 2012. Advice on Mutual Fund Selection. Journal Of Financial Service Professional, 1(1), pp. 72-76. Nilsson, J. , 2007. Investment with a Conscience: Examining the Impact of Pro-Social Attitudes and Percieved Financial Performance on Social Responsible Investment Behvior. Journal of Bussiness Ethics, 10(1), pp. 308-322. O’Neal, S. E. , 2000. Real estate mutual funds: Abnormal performance and fund characteristics. Journal of Real Estate Porfolio Management, 6(3), pp. 239-354. Palmiter, A. R. T. E. A. , 2009. Star Creation: The Incubation of Mutual Funds. Vanderbilt Law Review, 62(5), pp. 1483-1491. Palmiter, A. R. T. E. A. , 2009. Star Creation: The Incubation of Mutual Funds. Vanderbilt law Review, 62(5), pp. 1487-1498. Patari, E. J. , 2007. Do Hot Hands Warm the Mutual Fund Investor? The Myth of Performance Persistence phenomenon. International Research Journal Of Finance and Economics, 1(4), pp. 118-135. Patzelt, K. a. H. , 2009. Portfolio Strategies of Life Science Venture. Journal of Small Business and Entrepreneurship, 22(2), pp. 87-100. Rainish Robert, P. G. , 2002. Performance of Latin American focused mutual funds. American Business Review, 20(1), pp. 21-45. Ramola, K. , 1992. Yojana. Mutual Fund and The Indian Capital Market, 36(11), pp. 57-69. Shah, T. M. , 2000. Hot money and the emerging markets: Global political and economic determinants of portfolio capital. The Journal of Social, Political and Economic Studies, 25(1), pp. 27-57. Warburton, A. J. , 2006. Should Mutual Fund Be Corporations? A Legal ; Econometric Analysis. Business Review, 3(6), pp. 747-776. Wildmann, C. , 2011. What drives portfolio investment of German banks in emerging markets?. Finance Market and Portfolio Management, 14(2), pp. 197-231. William Fung, D. A. H. N. N. , 2008. Hedge Funds: Performance, Risk and Capital Formation. The Journal Of Finance, LXIII(4), pp. 23-49. How to cite Mutual Fund in India, Essay examples

Friday, December 6, 2019

Theology and Religious Studies

Question: Discuss this statement with reference to one of the four Gospels. Answer: Each of the Gospels was written to meet the spiritual needs of a Christian community. This statement is justified by an incident dictated by John, one of those four gospels. This story has been taken from John 6:1-15. John began his story by saying that Jesus went to the other side of the Galille Sea or Tiberias. John had mentioned the last time note in feast of the Jews.' Five to six months had passed after the Feast of Tabernacles. According to the other gospel, Jesus had sent twelve for ministry tour. They shared their experiences with him after coming back. At the mean time, they come to know that Herod beheaded John. Jesus and his disciples were engaged with the needy people. Therefore, they did not get the time to have something (Goh, 2016). Jesus invited them to go to another place for much-needed rest. With the help of a boat, they crossed the northern end of the Galilee Sea and reached to the area in the north of Bethsaida country. The crowds over there observed them passing the river and running around the lake. The disciples thought that they would never get away from the needy people. However, Jesus realized their compassion, gave them a lesson and healed their pain (Bssing et al., 2013). John noted that a big crowd followed him by seeing the signs, which was present in the sick people. Those people were not following Jesus just because he is the son of God, who can save them from their sins but also they got fascinated by seeing those miracles. Others in that group needed that magical healings for either their loved ones or themselves. The overall reason for following Jesus was superficial and misguided. According to John, after that incident, Jesus went up to the mountain, and he sat with his disciples. There he received Ten Commandments. A parallel was drawn with the Mose, who helped the people to get out of the Egypt after Passover (Sulmasy, 2016). Moses is also used by God to provide manna to the people in the wilderness. Therefore, mentioning the Passover is more than just a time notice. From John's view, Jesus should appear as the better and new moses. He provided himself with the brad of life or permanent manna. The Moses wrote to him. In the case, where the manna was called by Jesus to float down from heaven, he did not agree to do that. By using that magical incident, Jesus trained his twelve followers. John focused on the point where Jesus was asking Philip that where they can buy bred so that they can eat. According to the other disciples, Phillip had told Jesus to dismiss the multitude so that they can go for buying bread. However, pointedly Jesus told them to give something to eat. According to John, Jesus was doing to test them, as he was aware of his work (Ross Austin, 2015). Jesus was showing the way, where Philip and other disciples have to meet their needs along with their woeful inadequacy and all his sufficiency. Therefore, the statement is justified. References: Bssing, A., Janko, A., Baumann, K., Hvidt, N. C., Kopf, A. (2013). Spiritual needs among patients with chronic pain diseases and cancer living in a secular society.Pain Medicine,14(9), 1362-1373. Goh, D. P. (2016). Secular space, spiritual community and the hybrid urbanisms of Christianity in Hong Kong and Singapore.International Sociology, 0268580916643086. Ross, L., Austin, J. (2015). Spiritual needs and spiritual support preferences of people with end stage heart failure and their carers: implications for nurse managers.Journal of nursing management,23(1), 87-95. Sulmasy, D. P. (2016). Christian witness in health care.Christian Bioethics,22(1), 45-61.

Friday, November 29, 2019

Strategic Management McDonalds

Introduction All businesses, irrespective of their industry, require strategies in order to be successful. High competition resulting from globalization and technological advancement has necessitated clear-cut strategies in order to survive. Strategic management has never been as important as it is today.Advertising We will write a custom report sample on Strategic Management: McDonald’s specifically for you for only $16.05 $11/page Learn More Through strategic management, organizations are able to identify and implement the best practices to gain competitive advantage, increase profit margin and grow (Hubbard, Rice, and Beamish 2008). Fast food industry is one of rapidly growing and competitive industry. A company in this industry has to develop and implement successful business strategies in order to gain competitive advantage. In this report, a case study for McDonald’s is provided. The report reviews the strategies that McDonald’ s has adopted in order to maintain its global position in fast food industry. Organization Overview The McDonald’s has been in operation in food industry since 1954. The US based company operates a chain of fast food restaurants in more than 119 countries. Though initially established by McDonald’s brothers, McDonald’s success is attributed to its later owner: Ray Kroc. Over years McDonald’s has emerged to be a strong brand in the fast food industry. Most of its restaurants across the globe are operated as franchises. McDonald’s chain of restaurants is renowned for its uniform and standardized menu. McDonald’s menu across its chain mainly consists of burgers, milk shakes, French fries, sandwiches, Ice cream sundaes, vegetable salads and desserts (McDonald’s Corporation 2010). The menu however changes slightly from country to country depending on culture and customer taste. The company is renowned for its innovative products. Some of i ts successful products include Big Mac, Chicken McNuggets, Quarter Pounder with Cheese and the Filet-O-Fish (McDonald’s Corporation 2010). McDonald’s main target for its products over years has been children and mothers. The company has therefore adapted its products and restaurants to its main target. Besides its ‘Happy Meals’, some of McDonald’s restaurants serve breakfast offering that include coffee, Egg Sandwiches, Sausage McMuffin, biscuit and hotcake. Though McDonald’s is generally successful, it has encountered various challenges along the way. High competition in fast food industry has been one of the main challenges in its global strategy. Apart from high competition, the company has been involved in controversies over its contribution to obesity. Increased health concerns especially in the US and UK has been a major concern to McDonald’s management.Advertising Looking for report on business economics? Let's see if we c an help you! Get your first paper with 15% OFF Learn More Strategies McDonald’s has adopted various strategies in order to be successful in global fast food industry. Although McDonald’s is one of the most experienced companies in the fast food industry, established and upcoming companies have been a threat to its market share. Wendy’s is just one of the fast food companies that have been a threat to McDonald’s. Through adopting certain strategies, McDonalds have been able to withstand competition and increase its number of restaurants across the globe. Strategic management should define an organization’s position, its desired position in the future and actions to be taken in order to achieve the desired goal. Through its ‘plan to win’ global strategy, McDonald’s has been able to remain highly competitive despite of negative publicity over health concerns. Increased health concerns and negative publicity resulting from health related controversies have been a major challenge to McDonald’s (Wilsher 2010). To address this, McDonald’s has adapted various business strategies. To create a healthy image for itself, McDonald’s plan to do away with soft drinks and Super French fries. Besides, the company plans to make changes to its menu in order to reflect increases health concern. For instance cinnamon roll with a sausage burrito is considered to be the major breakfast offering in United Kingdom. McDonald’s has been able to establish a strong brand over years. With negative publicity resulting from health concerns, the company has increased its effort to protect its brand. â€Å"Be our customers’ favourite place and way to eat† is the company brand mission (Ganapathy 2009). To ensure the mission is achieved, the company has taken firm actions from improving products, customer service to promotion. The company has implemented a new cooking system aiming at improv ing quality of products served in its menu (Howard 1999). Restaurant dà ©cor to brand icon has been improved across the globe in order to ensure consistent image to its customers. In addition, McDonald’s has consistently increased its promotion effort through conventional channels as well as new technology such as the internet.Advertising We will write a custom report sample on Strategic Management: McDonald’s specifically for you for only $16.05 $11/page Learn More Customer service is core to success in hotel and hospitality industry (Prakash and Olsen 2003; Tse and Jogaratnam 2008). McDonald’s has taken strategic actions to ensure high customer feel. Part of the strategies includes recruitment and training of right staff. McDonald’s staff is trained to treat customers with respect and maintain a smiling face while serving. High standard of hygiene is maintained including restaurants’ bathrooms. To show its concern f or environment, McDonald’s collects dropped burger wrappings and cups using its three-wheeled vehicle (Livesey 1999). Strategic Recommendations The principle objective of strategic management is to boost an organization’s competitive advantage. It enables the management to establish plans to address current and future needs of an organization (Thompson, Strickland and Gamble 2007; Carpenter, Sanders, Rice and Martin 2010). Fast food industry has attracted many players that try to address various customer needs. Most of these competitors exploit customers’ needs and concerns not well served in McDonald’s. McDonald’s therefore needs to put more effort to maintain its market share in the industry. Some of strategic actions that McDonald’s should take include: Enhance promotion and advertisement in order to overcome negative publicity Progressively expand its menu in order to accommodate increased customer needs and tastes, including health con cerns Invest more on product development in order to come up with competitive products for different cultures Conclusion Strategic management approach is a necessity in all industries in the global economy. Hotel and hospitality industry is one of the industries that most require strategic management. Companies in this industry must align their products and services to rapidly changing customer needs and taste. McDonald’s success in fast food industry can be attributed to its adherence to strategic management principles. The company is able to overcome its challenges by following clear-cut plans. Though clouded by controversy over health concerns, the company seems to maintain customer loyalty and still has high competitive advantage over other players in the industry. Reference List Carpenter M. A., Sanders W., Rice J. and Martin N., 2010, Strategic Management: A Dynamic Perspective, Concepts and Cases, Pearson Australia, Frenchs Forest.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Ganapathy, S., 2009, McDonald’s International Strategy: Squander Brand Equity? Web. Howard, T., 1999, The Over-Arching Strategy-McDonald’s Global Brand Strategy Task Force.  Web. Hubbard, G., Rice, J. and Beamish, P., 2008, Strategic Management Thinking Analysis, Action, Pearson, Sydney. Livesey, S., 1999, McDonald’s and the Environmental Defence Fund: A Case Study of a Green Alliance, The Journal of Business Communication, Vol. 36 McDonald’s Corporation 2010, Travel through Time with Us.  Web. Prakash, K. and Olsen, M., 2003, Strategic alliances: a hospitality industry perspective, International Journal of Hospitality Management Vol. 22, pp 419-434. Thompson, A., Strickland, A., and Gamble, J., 2007, Crafting and Executing Strategy, McGraw-Hill, New York. Tse, E. and Jogaratnam, G., 2008, From the top down: strategic management in the Hospitality Industry, SAGE Handbook of Hospitality Management, SAGE London, pp165 – 191. Wilsher, S., 2010, Mc Donald’s in Hot Water over Marketing Tactics.  Web. This report on Strategic Management: McDonald’s was written and submitted by user Sunset Bain to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Monday, November 25, 2019

Findings, Recommendations and Conclusions on Hyundai Motors India Essay Example

Findings, Recommendations and Conclusions on Hyundai Motors India Essay Example Findings, Recommendations and Conclusions on Hyundai Motors India Essay Findings, Recommendations and Conclusions on Hyundai Motors India Essay A REPORT ON INTERNSHIP TRAINING SAGAR LOGISTICS LIMITED Submitted in the partial fulfilment of the requirement for the award of the degree of MASTER OF INTERNATIONAL BUSINESS By SIDHARTH THOMAS REG NO: 11MIB111 2011-2013 SCHOOL OF COMMERCE AND INTERNATIONAL BUSINESS Dr. G. R. DAMODARAN COLLEGE OF SCIENCE (Autonomous) Affiliated to Bharathiar University and Re accredited with ‘A’ grade by NAAC, An ISO 9001:2000 Certified Institution Civil Aerodrome Post, Avinashi Road, Coimbatore- 641 014. SCHOOL OF COMMERCE AND INTERNATIONAL BUSINESS Dr. G. R. DAMODARAN COLLEGE OF SCIENCE (Autonomous) Affiliated to Bharathiar University and Re accredited with ‘A’ grade by NAAC, An ISO 9001:2000 Certified Institution Civil Aerodrome Post, Avinashi Road, Coimbatore- 641 014 CERTIFICATE This is to certify that the internship report on GENERAL STUDY ON LOGISTICS is a bonafide record of work done by SIDHARTH THOMAS REG NO: 11MIB111, in partial fulfilment of the requirement for the award of the degree of MASTER OF INTERNATIONAL BUSINESS COURSE DIRECTOR Submitted for Viva-Voce Examination held on INTERNAL EXAMINER   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  EXTERNAL EXAMINER DECLARATION I hereby declare that the internship report on â€Å"A GENERAL STUDY ON LOGISTICS† DONE AT SAGAR LOGISTICS submitted in the partial fulfilment of the requirements for the award of the degree of MASTER OF INTERNATIONAL BUSINESS is the original work carried out by me. It is not formed as a part of any other project work submitted for the award of any degree or diploma, either to this or to any other university. SIDHARTH THOMAS REG NO: 11MIB111 ACKNOWLEDGEMENT I express my sincere thanks to DR. K. K. RAMACHANDRAN, Director, G. R. D SCHOOL OF COMMERCE AND INTERNATIONAL BUSINESS, for providing me this opportunity to take up this internship training. : I wish to express my deep sense of gratitude to Mr. VS PRADEEP, CHIEF EXECUTIVE OFFICER of SAGAR LOGISTICS PVT LIMITED, for his kind acceptance of training request in the company. The gratitude passes to all the trainers of  SAGAR LOGISTICS PVT. LTD, who gave me support and training during my internship training in the company. I also express my sincere thanks to Mr. S. MOORTHY who guided me throughout my report. I extend my sincere thanks to all my family members for being extremely supportive during my training period. SIDHARTH THOMAS TABLE OF CONTENT S. NO| CHAPTER| NAME| PAGENO| 1. | I | 1. INTRODUCTION TO INTERNATIONAL BUSINESS2. INTRODUCTION TO THE INDUSTRY3. OBJECTIVES4. ROLE AS AN INTERN| 6-891011| 2. | II| 1. COMPANY PROFILE2. VISION AND MISSION3. PRODUCT PROFILE/ SERVICE PROFILE| 111212-20| 3. | III| 1. DEPARTMENTAL ACTIVITIES| 20-26| 4. | IV| 1. OUTCOME OF THE INTERNSHIP2. CONCLUSION| 2728| Introduction to international business International business is a term used to collectively describe all commercial transactions (private and governmental, sales, investments, logistics, and transportation) that take place between two or more regions, countries and nations beyond their political boundary. Usually, private companies undertake such transactions for profit; governments undertake them for profit and for political reasons. 1 It refers to all those business activities which involve cross border transactions of goods, services, resources between two or more nations. Transaction of economic resources include capital, skills, people etc. for international production of physical goods and services such as finance, banking, insurance, construction etc. 2 International business involves commercial activities that cross national frontiers. It concerns the international movement of goods, capital, services, employees and technology; importing and exporting; cross border transactions in intellectual property via licensing and franchising; investments in physical and financial assets in foreign countries; contract manufacture or assembly of goods abroad for local sale or for export to other nations; buying and selling in foreign countries; the establishment of foreign warehousing and distribution systems; and the import to one foreign country of goods from a second foreign country for subsequent local sale. 3 All the basic tools and concepts of domestic business management are relevant to international business. However, special problem arise in international business, in particular * Deals might have to be transacted in foreign languages and under foreign laws, customs and regulations. * Information on foreign countries needed by a particular firm may be difficult * Foreign currency transactions will be necessary. Exchange rate variations can be very wide and create many problems for international business. * Numerous cultural differences may have to be taken into account when trading in other nations. Control and communication systems are normally more complex for foreign than for domestic operations. * Risk levels might be higher in foreign markets. * International managers require a broader range of management skills than do managers who are concerned only with domestic problems. 1-Daniels, J. , Radebaugh, L. , Sullivan, D. (2007). International Business: environment and operations, 1 1th edition. Prentice Hall. * Large amounts of important work might have to be left to intermediaries, consultants and advisers. * It is more difficult to observe and monitor trends and activities in foreign countries. Why firms engage in International Business? Business undertakes international operations in order to expand sales, acquire resources from foreign countries, or diversify these activities (Anderson 1993). The motives for operating internationally are as follows: * Commercial risks can be spread across several countries. * Involvement in international business can facilitate the ‘experience curve’ effect. * Economies of scope (as opposed to economies of scale) might become available. Economies of scale are reductions in unit production costs resulting from large scale operations. The costs of new product dev could require so much expenditure that the firm is compelled to adopt an international perspective. * There might be intense competition in the home market but little in certain foreign countries. * A company’ overall strategies and plans can be anchored against a wider range of opportunities. Sudden collapses in market demand in some countries may be offset by expansions elsewhere. * Cross-border trade is today much easier to organise than in the past. International business is not new – businesses and nations have conducted trade across national boundaries for centuries. Lured by the prospects of large markets and/or sources of raw materials, businesses have traded with other parts of the world. But as we will see later global business and global industry is different. Overseas trade and Ansoff’s matrix Thinking about international business in the context of Ansoff’s matrix: * Entry into overseas markets represents market development. * Existing products are sold in new markets. * It is appealing because: market penetration is difficult in saturated markets. product development is costly. diversification is risky Why enter overseas markets? The reasons for entering overseas markets can be categorised into â€Å"push† and â€Å"pull† factors: Push factors * Saturation in domestic markets * Economic difficulty in domestic markets * Near the end of the product life cycle at home * Excess capacity * Risk diversification Pull factors * The attraction of overseas markets * Increase sales * Enjoy greater economies of scale * Extend the product life cycle * Exploit a competitive advantage * Personal ambition Factors in the choice of which overseas market(s) to enter: * Size of the market (population, income) * Economic factors (state of the economy) Cultural linguistic factors (e. g. preference for countries with similar cultural background) * Political stability (there is usually a preference for stable areas) * Technological factors (these affect demand and the ease of trading) Constraints and difficulties in entering overseas markets: * Resources * Time * Market uncertainty * Marketing costs * Cultural differen ces * Linguistic differences * Trade barriers * Regulations and administrative procedures. * Political uncertainties * Exchange rates (transactions costs risks) * Problems of financing * Working capital problems * Cost of insurance Distribution networks Exporting is only one method of doing business internationally * We normally think of overseas trade in terms of exporting and importing goods and services * This involves transporting goods and selling them across national boundaries. * Direct exporting implies that the domestic firm is actively involved in selling the goods abroad * Indirect exporting means that the marketing of goods is delegated to export agents and the UK manufacturer concentrates on production * But exporting involving the movement of goods is only one method of engaging in international business Other methods of market entry * Overseas product an/or assembly (producing goods abroad) * International alliances and joint ventures (working with foreign companies) * International MA (mergers and acquisitions across frontiers) * International franchising and licensing allowing foreign based firms to produce, market and distribute goods in specified areas abroad) A. Definition LOGISTICS IS THE ART AND SCIENCE OF MANAGEMENT, ENGINEERING AND TECHNICAL ACTIVITIES CONCERNED WITH REQUIREMENTS, DESIGN AND SUPPLYING, MAINTAINING RESOURCES TO SUPPORT OBJECTIVES, PLANS AND OPERATION. SOCIETY OF LOGISTICS ENGINEERS (SOLE) 1974. Fierce competition in today’s market has forced business enterprises to invest in and focus on supply chains. The growth in telecommunication and transportation technologies has led to further growth of the supply chain. The supply chain, also known as the logistics network, consists of suppliers, manufacturing centers, warehouses, distribution centers and ret ail outlets, as well as raw materials, work-in-process inventory and finished products that flow between the facilities. The logistics management takes into consideration every facility that has an impact on cost. It plays an important role in making the product conform to customer requirements. Also it involves efficient integration of suppliers, manufacturers, warehouses and stores and encompasses the firms’ activities at many levels, from the strategic level through the tactical to the operational level. Logistics is a challenging and important activity because it serves as an integrating or boundary spanning function. It links suppliers with customers and it integrates functional entities across a company. With the ever-growing competition in today’s market place it becomes necessary for a firm to use its resources to focus on strategic opportunities. This includes several internal factors like management style, culture, human resources, facilities and several external factors like technology, globalization and competition. This is where the concept of logistics plays a major role, i. e. it helps to leverage certain advantages the firm has in the marketplace. B. Role of Logistics Lets us now have a look at how logistics works. It is important to recognize the importance of a dynamic balance between the minute details and the main elements involved in a product. The Role of Logistics is to maintain that balance. Once the firm realizes the importance of logistics it is necessary that the firm make full and efficient use of logistics. The first step is to create a buyer value for the customer and a strategic value for the firm. The customer is the most important asset for a company. He drives the entire supply chain including manufacturing, marketing and logistics. Hence it is important for a firm to have a clear understanding of what the customer demands and to keep up to the customers expectations. Once a company has a clear understanding of its customer’s requirements it must device a strategy on how to use logistics to achieve it. This means that the company has to have a clear understanding or assessment of company’s strategic direction. Now lets take a look at the various steps involved in a logistics strategy development and planning process. Visioning: this includes the systematic development of an organizational consensus regarding the key inputs to the logistics planning process as well as identification of the potential alternative logistics approaches. This is an important step for the following reasons: * Helps to define a strategic direction to the company and also to get a clear understanding the role of logistics in it. * Get a clear idea of the requirements of the various segments of customers. * Have a look at the various factors that would affect the strategy of the company. * Define alternative strategies and also the scope of the planning effort. Strategic analysis: this involves taking a look at the various components involved in the process and selecting the best logistics process among the alternatives. These components, which are to be reviewed, are revealed during he first step. This may include revamping the entire process to assessing how a single component can be used more effectively. Planning: this involves the assembling of a plan that outlines the mission and goals for the logistics function and the programs and activities to achieve these goals. Logistics planning is an iterative process. The plans have to be redefined every year to improve the quality of performance. Managing change: this involves effective management to implement enhanced ways of conducting business. The management should keeping changing the plans in accordance with the change in the market and also coach the organization to effectively embrace this change. C. Current Logistics Related Issues There are several factors that affect logistics. These issues need to be anticipated, prepared for and taken advantage of for a company to be successful in today’s market. They are External: * Globalisation * Technology Workforce 2000 * challenging nature of the work force * Environmental concerns Internal: * Customer service and quality * Third party networks * Supply chain management * Changes in management and organization style Listed below are some of the steps that could be followed to mitigate the above mentioned issues: Performance: * Better service for customers * Improved productivity * Assess just in time and quick response needs System structure: * Better relationship with vendors, customers and third parties to more effectively manage the supply chain * Better relationship within and across the organization Technology integration: * Better information systems that connect functions and organizations * Combine information and material handling systems for increased efficiency and effectiveness. OBJECTIVE OF THE STUDY * To study the performance of LOGISTICS process. . * To know about the marketing techniques and promotion measures. * To understand the overall functioning of all the various departments. AS A INTERNEE I did my Internship training at SAGAR LOGISTICS PVT. LTD. I had a very good experience observing and working with various departments of SAGAR. COMPANY PROFILE SAGAR shipping was started in the year 1987 at Willington Island, Kochi, Kerala to provide professionalized service in the area of clearing and forwarding. This is our Silver Jubilee year. OUR LEADER MISSIONARY : Mr. V. S Pradeep is the founder of this organization and is the chief executive officer. Amongst the many laurels that adorn his professional cap the following needs special mention. President Cochin Customs Agent Association (1999-2001) Director Indian Chamber of Commerce Industry (Two terms) Trustee Cochin port (2000-2002) OUR MISSION : Our mission is to provide a personalized touch to the professional service of Clearing Forwarding by finding the right person for the right job and by ensuring the right job for the right person. It is our Endeavour to translate our years of experience, competence and goodwill to cater to the stringent demands of changing times. We take pride in building long term relationships and quality service with uncompromising thoroughness, integrity, confidentiality and timely delivery. We take time to listen, understand and match the needs of our clients. OUR ETHICS : We are a value based organization. We conduct reference checks before our service is offered. We ensure confidentiality to our clients. OUR SERVICES : * Custom Clearing forwarding * Baggage clearance * Packing * Freight forwarding * Warehousing * Transporting Packing and Warehousing The packing of the goods for export is a complex task to ensure goods are protected against the risks involved in their handling and the modes of transportation being used. Consideration needs to be given to the climates and terrain of the countries through which the consignments will be travelling. Too much heavy packing could prove costly for goods travelling by air, for example. On the other hand, too little packing might prove a false economy. Many forwarders provide a packing service for their customers, and the forwarder’s expertise . . Who are Freight Forwarders? The different types of freight forwarding companies can be broadly divided into three categories: Local companies These are generally small single office companies which tend to deal with customers in the local area, or operate at a seaport or airport concentrating on particular types of traffic. National companies Many forwarders have offices in the major ports and airports throughout the country as well as in the largest industrial towns. They may also have warehousing or handling depots from where they operate their own services. Such companies will often have agents or correspondents overseas in the markets with which they operate. International companies The truly international company will have its own offices overseas and offer a wide range of worldwide services. Import Procedures Procedures have to be followed by ‘person-in-charge of conveyance’ as well as the importer. WHO IS PERSON IN CHARGE As per section 2(31), person in charge means (a) In case of vessel – its master (b) In case of aircraft its commander or pilot-in-charge (c) In case of train its conductor or guard and (d) In case of vehicle or other conveyance its driver or other person in charge. The significance of this definition is He is responsible for submitting Import Manifest and Export Manifest He is responsible to ensure that the conveyance comes through approved route and lands at approved place only. He has to ensure that goods are unloaded after written order, at proper place. Loading also has to be only after permission. He has to ensure that conveyance does not leave without written order of Customs authorities. He can be penalised for (a) Giving false declaration and statement (b) shortages or non-accounting of goods in conveyance Procedure by Importer The importer importing the goods has to follow prescribed procedures for import by ship/air/road. (There is separate procedure for goods imported as a baggage or by post. ) Bill of Entry This is a very vital and important document which every importer has to submit under section 46. The Bill of Entry should be in prescribed form. The standard size of Bill of Entry is 16 ? 13. However, for computerisation purposes, 15 ? 12 size is permitted. (Mumbai Customs Public Notice No. 142/93 dated 3-11- 93). Bill of Entry should be submitted in quadruplicate – original and duplicate for customs, triplicate for the importer and fourth copy is meant for bank for making remittances. Under EDI system, Bill of Entry is actually printed on computer in triplicate only after ‘out of charge’ order is given. Duplicate copy is given to importer. Types of Bill of Entry Bills of Entry should be of one of three types. Out of these, two types are for clearance from customs while third is for clearance from warehouse. ACTIVITIES OF SELECTED DEPARTMENT Sea Freight Forwarding : services are offered irrespective of the nature of business i. e. export or import . Through our ocean Freight Forwarding Services, we handle general, project as well as stock shipments at the quickest pace. We ensure dry area for the proper placement of the arrived shipment at all the sea ports. Being a reliable Sea Freight Forwarder we also offer LCL and FCL consolidation . We also have support of order follow up and supply chain tracking system. Air Freight Forwarding : Service are the first of all quick and then very safe . The services of International Air Freight Forwarding include door to door service of pick up , custom clearance , delivery on the desired destination . Besides, we also pick up the cargo from the clients end . We promptly notify the consignee about the arrival of the shipment and delivery instruction . Besides, we are a trusted Air Freight Forwarder in India. The company offers gamut of Import and Export Services in the industry . We are reckoned as one of the leading Import Export agents in India. Our range of services in this category includes custom duty clearance , providing required bills and certificates, certified survey and compliances , third party inspection, transportation, warehousing and logistics solution and so on . Counted among the prominent import Export Agents in India, we take every measure to serve the clients in the most professional manner so that they get maximum satisfaction meeting their end vision. SAGAR logistics is specialized in offering highly reliable Custom Clearance Services in the industry. We are counted among the best Custom Clearing Agents in India. We extend our services for the hassle free transaction of shipments of the clients in almost all the customs houses in India. Our team of professionals is proficient in the complex documentation process of custom clearance . We take every care for the timely clearance of the goods from the ports or custom house through our Custom Clearance Services OUT COME OF THE INTERNSHIP Got to observe the various departments as an whole but not in detail Learned new things concerning the procedures of import and export Got a chance to interact with people around 5. 2 CONCLUSION Logistics is the one important function in business today. No marketing, manufacturing or project execution can succeed without logistics support. Logistics is important in India because of the country’s size, geography, population variety, natural and man-made calamities etc. The transport facilities are inadequate in India and roads are bad. India lacks a well-developed road network and waterways are still unexploited. Due to competition, globalization and information availability, logistics has gained extra importance. First: the days are gone when a manufacturer had a better raw material supplier than competitors. Then, the operations in a manufacturing process are well known to all. The processes are more or less standard. Also, technology is available to all. The only area where one can score over competitors is logistics. If logistics cost is reduced, there is a gain. . .

Thursday, November 21, 2019

Analysis of the training criteria used to send staff for trainning Research Paper

Analysis of the training criteria used to send staff for trainning - Research Paper Example As commonly witnessed, in the process of training, the skills as well as knowledge possessed by an employee(s) are indented to be developed with the intention to attain organizational goals more comfortably (Drummond 4-8). Based on these aspects, it has been noted that training of the staff members will be quite crucial in General Organization for Youth and sport (GOYS), which is a renowned non-profit organization of Bahrain. The organization is known for providing requisite support to the youth of the country and facilitates them with major technologies as well as trainers required to pursue a career in sports. The organization is also involved in promoting and discovering talented youth and encouraging them to participate in sports representing the country in the global arena General Organization for Youth and Sports, â€Å"General Conditions†). PART 1: IDENTIFICATION AND JUSTIFICATION OF A STRATEGIC INVESTIGATIVE PROJECT 1.1. Topic of the investigation In the modern day bus iness context, staff members should necessarily possess all the latest skills that are required for the continuous development of the organizational operations to accomplish the determined objectives. However, owing to the persistence of gaps in the skills required and the skills possessed, staff members need to be provided with adequate training so as to mitigate such gaps and attain organizational objectives at large. In relation to this, the topic of the study for this research paper will investigate about the strategies through which GOYS of Bahrain has developed as its training criteria to provide its staff members with training facilities and mitigate gaps existing in their skills. Being a non-profit organization,

Wednesday, November 20, 2019

Subject political science in 1989 some observers claimed that marxism Essay

Subject political science in 1989 some observers claimed that marxism was obsolete. What if any analytical insights can marxist political economy still provi - Essay Example A Roman citizen often owned slaves who worked his land growing wheat; a feudal lord would seize the surplus wheat grown by the serf on the lands; the early capitalist farmers began to employ landless labourers to do their manual work for a wage that was less than the total value f the product that they created. In each case, wheat is grown on land by the labour f men and women, but the social arrangements are totally different. There are totally different class relationships, leading to totally different forms f society: ancient, feudal, and capitalist. The one thing that unites these three arrangements is that in each case a minority class rules and takes the surplus away from the producers. Each society, says Marx, embodies class exploitation based on the relationships f production, or rather, the modes f production. The key to understanding a given society is to discover which is the dominant mode f production within it. The basic pattern f social and political relationships can t hen be known. Since Marx concentrates his attention on the class structure f capita... While Marx recognizes that there are other classes, the fundamental class division is between this pairing f the exploiter and the exploited. The bourgeoisie derive their class position from the fact that they own productive wealth. It is not their high income that makes them capitalists, but the fact that they own the means f production. For example, the inputs necessary for production - factories, machines, etc. The ability f workers to work (labour power) is in itself a marketable commodity bought for the least cost to be used at will by the capitalist. In addition, the capitalist owns the product and will always pocket the difference between the value f the labour and the value f the product - referred to by Marx as 'surplus value' - purely by virtue f his ownership. His property rights also allow the capitalist the control f the process f production and the labour he buys. The proletariat in contrast, owns no means f production. Because f this exploitation, Marx viewed the bourg eoisie and the proletariat as locked in deep and unavoidable conflict. The criminal justice system, in the words or Marx, is used against, rather than for the people. Under capitalism, the system f law and punishment is inherently unjust, designed not to control crime for the good f the society but to subjugate the population. For instance, imprisonment is imposed less as a direct punishment for convicted felons than as a way to siphon off surplus labour from the population. Since a long cycle f growth and depression is inherent in capitalism, there will be times when there are too many workers that the economy cannot absorb. These surplus workers are a threat to capitalists, since they could organize into a revolutionary movement. Therefore, the theory

Monday, November 18, 2019

Fourth amendment Research Paper Example | Topics and Well Written Essays - 1000 words

Fourth amendment - Research Paper Example The origin of the amendment can be traced to the efforts by the Americans to suppress disputes in the infamous rebellious slanderous prosecutions. There was a violent disagreement in the state on what the phrase â€Å"Represent the People† meant. The Revolutionary period was characterized by mob actions that were instigated by; (a) taxation without representation, (b) the general searches’ enforcement of the tax laws; they lacked enough evidence of unlawful activity. The authority to perform the searches was provided by the British Parliament which was the legislative authority at that period. The mob grievances were further extended by the American’s inadequate indulgence in the decisions about how and when the searches could happen (Taslitz, 2006). The Revolution was motivated by the political theory and the disputes over the seizure and search policy. There was also concern over the insults that the people were being subjected by the state forces. A section of the insult was on the basis of the class; the uneducated, subordinate, and the low born officers were allowed to perform searches in the homes of high ranked free householders. The colonists were offended by the people who did the searches and the mode of choosing the suspects. The choice of suspects was done arbitrarily without enough supporting evidence of the wrong done by the individual and it lacked guidelines that would limit the officer’s discretion. The injustice was so intense and it was once equated to the ongoing slavery at period (Taslitz, 2006). In other words, the Amendment addressed the issues during the colonial America that involved the issuance of searches without a cause or a warrant of arrest. The Amendment is meant to safeguard the people of America from privacy violations in the form of seizures and searches of their cars, homes and other properties. The Amendment also covers issues concerning the unlawful arrest of people. The amendment is

Saturday, November 16, 2019

The Problem Of Determinism And Free Will

The Problem Of Determinism And Free Will I will be concerned with the problem of determinism and free will. In particular, I will be addressing Ayers argument that we cannot be held morally responsible for our actions. Ayers argument can be summarised as: P1. All human actions are governed by causal laws, or they are not. P2. If they are, then they are necessary. P3. If they are not, then they must occur by chance. P4. If they occur by chance, we are not acting freely. C. We cannot act freely. (Ayer 1963, 255) I will argue that P2 and P3 are problematic as they do not acknowledge alternative positions on the subject. I will weaken his thesis by establishing the plausibility of compatibilism and libertarianism. I hold that we are morally responsible for our actions. In this paper, I will firstly adopt a compatibilist stance. Compatibilists hold that freedom is possible in a deterministic world. Adopting this conception of freedom will refute P2. I will secondly argue the plausibility of libertarianism. Libertarians believe that we are free agents and that the universe is not wholly deterministic. The issue of determinism and free will is important because it deals with the moral responsibility of our actions. Van Inwagen implied that free will will forever remain a metaphysical mystery (Van Inwagen 1998, 374). With this in mind, my endeavour will be a cautious one. I will not set out to prove anything; rather I will establish the possibilities of my theories. I will begin the discussion by introducing soft determinism. Subscribing to soft determinism will attack Ayers premise that determinism is not compatible with freedom. He assumes an incompatibilist stance by stating causal laws nullify freedom. An incompatibilist stance is one that asserts free will cannot exist in a deterministic world. I hold that by ignoring compatibilism, he has left P2 vulnerable. I will expose this by validating the possibility of compatibilism. This inquiry will be driven by Humes notion of soft determinism, as I believe it to be the most prominent compatibilist argument. Hume holds that freedom is possible in a deterministic world. He challenged his contemporary philosophers, believing they laid in a labyrinth of obscure sophistry (Hume 1748, 54). He believed part of the dispute stemmed from a common misunderstanding between determinists and libertarians. This could be resolved by marrying the two factions together. To be free, he argued, we require necessity (Hume, 66). A common view of liberty is the cessation of an act neither being caused nor necessitated. I find this grossly problematic. If an act is not determined, it is merely an act of randomness. By rejecting necessity, Libertarians are inflicting self-harm. If our actions were not determined, they could only have been derived from chance (Hume, 66). To Hume, this is a fatal flaw in libertarianism. While rejecting liberty, Hume also attacks hard determinism. He proposes that freedom should be defined as unimpeded actions that are guided by our desires. Even though our desires are determined, they are caused by our desires (Hume, 66). Acts are effects of will, thus we are morally responsible for willing the determined acts. This is contrary to Taylor (1963 43) who states that we should not be held responsible for our acts, as we could have willed differently. In short, we are free agents because we are free to act in the confines of determinism. If we grant Humes concept of freedom, P2 of Ayers argument can be rejected. The difficulty, however, is establishing how this weakened form of freedom permits moral responsibility. I will now critically assess criticisms to Humean compatibilism. Critics will contend that Humes conception of free will negates moral necessity. This view is widespread among incompatibilists (i.e. hard determinists and libertarians). They hold that freedom cannot suffice in a deterministic world. Granted determinism is true; our freedom is confined to a fate which we cannot avoid. We are free to act, but not to choose. For example, I fed my dog at 6:00pm tonight because of the antecedent variables that guided my decision at 6:00pm. What if, however, I asked myself at 6:00 my mind is telling me to feed the dog now, but I will deliberately feed her at 6:01, as to avoid making a determined choice? If I did that, it would have already been antecedently calculated into the determined variables in guiding my decision. Hard determinists also like to ascribe a logical precondition to determinism. If a past event showed Þ Ã ¢Ã¢â‚¬  Ã¢â‚¬â„¢ x, then Þ was always to be x (Aristotle Accessed 8/9/2010). This is like saying as I fed my dog at 6:00pm; I was always going to feed her at 6:00pm. This outcome was true tonight, just as it was true millennia ago or millennia from now. Looking back, granted determinism is true, was I still free even though it was logically impossible for me to feed her at different time? Hume would argue that the decision at 6:00pm was an act of the will, therefore I did have freedom. Conversely, it seems irresistible to attack the fact that I was inexplicably fated to act the way I did. Nonetheless, I hold that I acted freely at 6:00pm. I will argue that incompatibilists undermine the importance of freedom of actions. They do this by granting undeserved authority to freedom of choice. Freedoms of actions, I hold, are the main protagonists of free will. To establish this point I will go against the external constraint hypothesis found in many incompatibilist arguments. As Campbell puts it, a robot would not be held morally responsible for its actions (Campbell 1957, 158). To him, the robot analogy is analogous to humans if determinism is true. This is because he believes necessity eliminates moral responsibility, because like robots, would be programmed to follow our antecedental path. I constructed this common incompatibilist argument as: P1. Determinism is true P2. If P1, all outcomes are products of antecedental causes P3. If P2, there is no freedom of choices P4. For moral responsibility to exist there must be freedom of choices C. There is no moral responsibility if determinism is true While this argument seems plausible, I believe that it is ignorant. Moral responsibility does not require the freedom of choices. It is problematic to ascribe this precondition to free will. The term freedom of choice looks to be an appealing prerequisite for free will but it is really quite a mischievous term. This term negates necessity, as the causal function would be disproved. Without necessity, the only plausible output is chance. Compared with necessity, chance is a far less consistent foundation to build moral responsibility. With determinism, our actions are based on our willings. Without determinism, our actions are based on randomness. This is why I hold P4 to be fallacious. I stand with Hume in the view that determinism actually privileges freedom. Proving it plausible to reject Ayers argument on P2, I will now attack P3. Interestingly, the villains in this previous passage are now the heroes. I will be concerned with the arguments for liberty. Ayer states that if human actions are not causally determined, then they must occur by chance (P3). Libertarians contend this by arguing that the universe is not wholly deterministic, thus there is a margin for freedom to exist. The difficulty, however, is establishing how there is a mechanism of freedom which operates in this margin. As Ayer implies, outcomes can only be a product of either necessity or chance (Ayer, 255). If we reject this, we must find a different input altogether. This input must be plausible and a source of responsibility. Though this seems like a daunting task, some have heroically taken this path. Libertarians hold that the world is not wholly deterministic. They also believe that Þ did not have to x. It is not because of chance that Þ did not have to x, but because of an effort of the will. Campbell coined the term moral effort in establishing that Þ does not always x (Campbell, 164). These inner acts, which are needed to extrapolate moral effort, are based on first-person experiences. Furthermore, they are derived from conscious awareness. According to Campbell, some situations necessitate moral effort. For example, if I told my mother a lie about my whereabouts last Saturday night, this would constitute an act dictated by my inner self. This is because I am theoretical agent as I am a practical one (Campbell, 169). Taking this approach, however, is questionable. Campbell also claims we only need a small metaphysical niche to obtain free will. This claim is also open for scepticism. I will deal with these objections next. One possible criticism of Campbell is how he distinguishes practical beings from theoretical ones. Using my lying analogy, the determinist could reject this by stating that the antecedental conditions made me lie. There was no need for me to possess a theoretical cognitive capacity. The determinist would argue that the reflective sense-making can be explained via antecedental means. This objection, however, is taken from a third-person stance. Campbell could respond by claiming that my decision was an act of my inner self, and only I could comprehend the moral effort contained in the act. There is no evidence to support Campbell but there are also no grounds to refute him on through empirical means. When I told the lie, I was the sole author, and, according to Campbell, I am the sole reader too (Campbell, 159). His claim that free will can be verified by a metaphysical entity is also debatable. Even if we grant the existence of such a thing, how could it escape predetermination and c hance? And why should we exhort moral effort rather than withhold it? Campbell concedes that the nature of making choices is inexplicable (Campbell, 169). The mysterious nature that he ascribes to choice is quite useful. Although Campbells argument is far from imposable, it is quite tricky to dismiss entirely. Its resistance to scientific scrutiny is why it can be deemed plausible at the very least. This being said, P3 of Ayers argument is certainly disputable. In conclusion, it can be seen that P2 and P3 of Ayers argument are open to objection. We have observed that compatibilism contends Ayers premise that necessity diminishes freedom. From a Humean perspective, we saw that the concept of freewill was actually privileged by existence of necessity. This was because the view of freedom without necessity was seen to be unintelligible. By redefining freedom, we can see how free will can exist in a deterministic world. Contrary to popular belief, I argued that this revised concept of freedom was not undermined in any significant way. This is because freedom of choice is an overrated and problematic phenomenon. My second attack was on Ayers premise that necessity and chance are the only possible inputs for outcomes. Guided by Campbells view of libertarianism, I established the possibility of actions being guided by my inner consciousness. This inexplicable concept is embellished in a mysterious metaphysical nature, which is difficult to compreh end. While the determinist may contend that these inner acts are really forecasted acts, it is possible that I am also a theoretical being thus I evade the principles of physicality. While it has been observed that both my endeavours were conflicting one another, my aim was to undermine Ayers argument by any means necessary. If we grant the plausibility of these theories, we grant the plausibility of moral responsibility.